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IPFS News Link • Ron Paul Says...

A Small Continuing Resolution Victory Could Have Big Consequences

• Ron Paul Institute - Ron Paul

So the federal government racked up more debt in the last three months than it did from the ratification of the US Constitution until Ronald Reagan's first term! There will be even more shocking increases in the future since, according to some experts, federal debt is increasing by approximately 14 billion dollars a day.

Those tempted to blame the increase on President Biden, the Democratic Congress, or the covid-related spending spree, should consider the debt increased by around a trillion dollars a year in 2017 and 2018 — years when Republicans controlled the White House and both houses of Congress.

One more statistic to keep in mind is that the government's debt already exceeds America's gross domestic product. In other words, the US national debt, according to the government's own figures, is already worth more than the value of everything produced by American businesses.

Americans should keep these facts in mind when the media attacks as "irresponsible" the small group of Republicans who refuse to vote for a continuing resolution or CR, and thus risk a government shutdown, unless the CR is accompanied by spending cuts and reforms that would take federal spending off autopilot.

Unfortunately, the welfare-warfare spending coalition has once again triumphed over the small group of fiscal conservatives, as a continuing resolution that did not even pretend to cut spending passed in Congress over the weekend.
 


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